Home Capital Broker's Calls

Plenty of room for Frasers Logistics to pursue more acquisitions, says OCBC

Michelle Zhu
Michelle Zhu9/11/2018 12:32 PM GMT+08  • 2 min read
Plenty of room for Frasers Logistics to pursue more acquisitions, says OCBC
SINGAPORE (Sept 11): OCBC Investment Research is maintaining its “buy” call on Frasers Logistics & Industrial Trust (FLT) with a higher fair value of $1.19 compared to $1.18 previously, after incorporating the trust’s recent capital recycling transa
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Sept 11): OCBC Investment Research is maintaining its “buy” call on Frasers Logistics & Industrial Trust (FLT) with a higher fair value of $1.19 compared to $1.18 previously, after incorporating the trust’s recent capital recycling transactions into its valuation model.

In a report last Friday, analyst Andy Wong notes that FLT’s recently-completed property divestments at Coghlan Road and Hartley Street in Australia came in at attractive premiums of 36.7% and 40.3% above book values as at end-June and end-March, respectively.

He also highlights that FLT recycled the capital by purchasing two properties at Burilda Close in New South Wales and Wayne Goss Drive in Queensland, each with a respective net property income (NPI) yield of 6.1% and 6.8%, for an aggregate of A$62.6 million.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now